Which of the Following Statements Best Describes a Partnership

question 25

Multiple Choice

Which of the following statements best describes a partnership?

• A) Partnership involves two or more persons carrying on business with a view towards profits.
• B) Partnerships involve limited liability.
• C) Partnerships are created when two or more persons specifically agree to be in partnership.
• D) Partnerships are only created when they have been properly registered with the government.
• E) Partnerships are like any other form of contract; they can only be created when there is consensus between the parties in the form of offer and acceptance to that effect.

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Definitions:

Leader's Style

The characteristic manner in which a leader guides, influences, or directs a group, including approaches such as authoritative, democratic, or laissez-faire.

Task Behavior

The extent to which leaders are likely to organize and define the roles of their followers, aiming to establish clear paths to goal achievement.

Group Cohesiveness

The extent to which members of a group support and validate one another and remain loyal to the group.

Opportunistic Leadership

A leadership approach that involves taking advantage of situations as they arise, often adapting strategies and decisions based on current opportunities.